Linder Oil Company

Nice trader speak from our boy Brant. Mary Cook will have no clue what he is
talking about.
---------------------- Forwarded by John Suttle/HOU/ECT on 12/19/2000 04:18
AM ---------------------------

Brant Reves
12/18/2000 02:38 PM
To: Mary Cook/HOU/ECT@ECT
cc: Darren Vanek/NA/Enron@Enron, John Suttle/HOU/ECT@ECT, Nelson
Ferries/Corp/Enron@ENRON
Subject: Linder Oil Company

Mary,

Linder Oil Company, A Partnership- ENA is currently purchasing approximately
620,000/mmbtu/firm/month through March'01 under GTC contracts. The current
dollar value of this notional volume is approximately $5.5MM. No outstanding
financial trades exist.

Linder Energy Company - ENA is currently long one financial swap (nb3995.2)
for 6,500/mmbtu/d Cal'01 @ $2.755. The financial mark to market value of
this trade is approximately $7.3MM. The Annex B that was attached to this
omnibus confirmation contained credit language that provided a $600M credit
line and specified an additional amount of $700M. We received and continue
to hold an LC for $700M to secure the additional amount, but made no other
margin call.

Lousiana General Oil Company - ENA is currently long one financial swap
(nb3939.2) for 1,625/mmbtu/d Cal'01 @ $2.755. The financial mark to market
value of this trade is approximately $1.8MM. The Anned B that was attached
to this omnibus confirmation contained credit language that provided a $100
credit line and specified an additional amount of $175M. We received and
continue to hold an LC for $175M to secure the additional amount, but made no
other margin call.

This morning we called Linder Energy and Louisiana General for margin. They
can't post. We would like to assign the two outstanding financial trades to
Linder Oil Company and put into place language that would allow
physical/financial offset in an early termination event.

Could you please give me a call on this when you get a chance.

thanks
brant